Tds relating to different years
Querist : Anonymous
In Mar'15 (f.y.14-15) we make advance payment of Rs.15000/- against renewal of iso certification fees and then make another advance payment of Rs.25000/- in June'2015 (f.y.15-16) to same party so total bill will amount to Rs.40000/- which is received in June'15 only.
Now I want to know should we require to deduct tds on total bill amount.
Please reply.
Querist : Anonymous
Two more questions:
Firstly, as we had made advance payment without deducting tds now if we deduct tds then we had to pay interest also.
And Secondly, if bill date is 29.05.2015 but we had received and booked it in June'15 month and deposit the tds in July'15 then also we had to pay interest.
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